Financial Math Trivia Quiz! Test

8 Questions | By Mathemaniacs | Updated: Mar 20, 2022 | Attempts: 54

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1.

Monwabisi invests R25 000 for 5 years at 12% per annum, compounded annually. Determine the amount that he will receive after 5 years. (round off to the nearest rand)
- A.
  
  44058
- B.
  
  762
- C.
  
  44059
- D.
  
  3923
Correct Answer
C. 44059
2.

Calculate the value of an investment of R10 000 that earns simple interest of 6.75% per annum over 6 months. (round off to the nearest rand)
- A.
  
  10335
- B.
  
  10328
- C.
  
  9949
- D.
  
  10338
Correct Answer
D. 10338
3.

A particular car was bought for R75 000. What will the book value of the car be after 5 years if the rate of depreciation is 16% per annum, where the depreciation is based on the straight-line method. (round off to the nearest rand)
- A.
  
  15005
- B.
  
  14900
- C.
  
  15000
- D.
  
  15765
Correct Answer
C. 15000
4.

A loan of R100 000 is repaid over 20 years by means of equal monthly installments starting 1 month after the loan was granted. The interest rate is 15% per annum compounded monthly. What is the future value of the loan over 20 years. (round off to the nearest rand)
- A.
  
  199847
- B.
  
  257698
- C.
  
  1971549
- D.
  
  589362
Correct Answer
C. 1971549
5.

A man wants to make an investment that will be worth R50 000 after 10 years. What amount must he invest now if interest is calculated at 12% per annum compounded annually. (round off to the nearest rand)
- A.
  
  16989
- B.
  
  16099
- C.
  
  16199
- D.
  
  16009
Correct Answer
B. 16099
6.

An amount of x rand was invested at an interest rate of 12% per annum compounded quarterly. After 5 years the investment has grown to R1 806.11. Calculate the value of x correct to the nearest rand.
- A.
  
  1000
- B.
  
  1010
- C.
  
  998
- D.
  
  2589
Correct Answer
A. 1000
7.

Fausia and Nonhlanhla each have R1500. Fausia invests her money for 5 years at 10 % per annum compounded monthly. Nonhlanhla invests her R1500 for 5 years at 10% per annum compounded half-yearly. What is the difference in their accrued amounts at the end of the 5 year period? (round off to the nearest rand)
- A.
  
  102
- B.
  
  56
- C.
  
  16
- D.
  
  25
Correct Answer
D. 25
8.

Karabo's investment grows from R7000 to R9304.60 in a period of three years. Interest is compounded quarterly. What is (a) the effective interest rate on investment and (b) nominal interest rate on investment. (round off to 2 decimal places)
- A.
  
  9.60%; 9.54%
- B.
  
  9.60%; 9.95%
- C.
  
  2.4%; 2.52%
- D.
  
  3.57%; 7.24%
Correct Answer
A. 9.60%; 9.54%

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Current Version
Mar 20, 2022

Quiz Edited by
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Jul 16, 2016

Quiz Created by
Mathemaniacs

Financial Math Trivia Quiz! Test

Monwabisi invests R25 000 for 5 years at 12% per annum, compounded annually. Determine the amount that he will receive after 5 years. (round off to the nearest rand)

Calculate the value of an investment of R10 000 that earns simple interest of 6.75% per annum over 6 months. (round off to the nearest rand)

A particular car was bought for R75 000. What will the book value of the car be after 5 years if the rate of depreciation is 16% per annum, where the depreciation is based on the straight-line method. (round off to the nearest rand)

A loan of R100 000 is repaid over 20 years by means of equal monthly installments starting 1 month after the loan was granted. The interest rate is 15% per annum compounded monthly. What is the future value of the loan over 20 years. (round off to the nearest rand)

A man wants to make an investment that will be worth R50 000 after 10 years. What amount must he invest now if interest is calculated at 12% per annum compounded annually. (round off to the nearest rand)

An amount of x rand was invested at an interest rate of 12% per annum compounded quarterly. After 5 years the investment has grown to R1 806.11. Calculate the value of x correct to the nearest rand.

Karabo's investment grows from R7000 to R9304.60 in a period of three years. Interest is compounded quarterly. What is (a) the effective interest rate on investment and (b) nominal interest rate on investment. (round off to 2 decimal places)